Chapter 3: The Venture
[QuickMoves Pte. Ltd., Corporate office]
The majestic view of Marina Bay was framed resplendently by the ceiling-to-floor glass window of an opulent office. It was located on one of the top floors of the Republic Plaza, nestled in the business district of Singapore. Against that backdrop, Jackie stood leaning against the edge of a large glass-topped desk. She had her hair pulled back in a loose chignon with her arms folded pensively in quiet contemplation.
“What’s our position with core operations, Daphne?”
“We’re seeing exponential growth, Jackie. Not only due to the growth of our customer base, but from vendor sign-ups and new products. Revenue per transaction and order frequency has gone up 12% and 14% respectively from the last quarter.”
Daphne, her operations manager, then went on to provide further details on her presentation deck.
“Our core business is projecting steady growth, barring any hiccups, so I’m good with that,” Jackie commented, looking quite satisfied with the figures. “What’s happening with the system upgrades? Are we expecting any surprises?”
“Nah, our partners in Vietnam are beta testing as we speak, and the tech team is cleaning out the bugs. There’s nothing to worry about; we’re on top of things.”
Jackie acknowledged with a nod. Her mind now shifted to other aspects of the business.
“It’s almost 4 pm… Just where is Henry?”
She frowned, her patience running thin. They were on the cusp of a regional expansion, and she was on edge.
“He’s on his way. You know Henry, he’s probably tying up some loose ends with the VC before he meets you. I hear their investment team now wants to review the earnings spread. They seem unconvinced,” Daphne replied matter-of-factly.
Jackie bit her lower lip in response.
*They said it’d never work, and the market was too saturated. Well, it’s just over a year, and here we are! Our company is already well-entrenched in the market here, and we dominate the niche segments. That should account for something!*
The door suddenly swung open, and in came Henry, all dapper and suave in a sharp designer suit and trendy haircut.
“I’m terribly sorry, my darlings!” He held his pose for a full second as he brushed his hair back, then sauntered toward the meeting table.
“Those bastards, wait till I… Anyway!”
He gawked at Jackie with feigned surprise.
“Ooh, I love your poplin blouse. Brunello Cucinelli?” he cooed, bringing his hands up expressively to his smooth, glowing face. “And houndstooth-print slim pants with matching ballerinas, how bold!”
Jackie didn’t respond except to pull a chair out for herself at the table. Daphne rolled her eyes to the heavens and gave Jackie a wry smile.
“Well?” Henry pushed persistently for the answer, knowing full well it was.
“Well, what?” Jackie reacted dryly, but she relented. “Yes, of course, it is. Weren’t you the one who convinced me to get it?”
She knew her clothes accentuated her slender, well-limbed build, and couldn’t deny Henry a little credit.
“Let’s get down to business, shall we?” Jackie activated her tablet, ready to get an update from her senior manager.
“Yes, we shall!” he responded enthusiastically.
“Okay, Daphne, thanks. I know you have another meeting to catch, so off you go now.”
“Yeah, thanks. Okay then, Jackie, Henry, I’ll see you tomorrow. Gotta go.”
She gathered her things and gave them a wave as she left the room.
* * *
“Right, Henry, how’s progress on the Vietnam deal?
Henry took on a whole different demeanor when the discussion commenced.
“Good. Negotiations are going well. We have options to increase our stake, and we’ll have voting shares. We should be able to sign the agreement with Vina-Go when we fly in next month,” he replied, handing Jackie his summary report.
“Great! I’m sure they’re aware Vina-Go is small in a field of forty players. With the injection of our tech and delivery service know-how, we’re well placed to break into the top five within months of launch,” she remarked.
“You bet,” he responded, but feeling compelled to make a critical point, he added, “My only concern is that while we’re in the business of deliveries, e-hailing is new to us. Competition is stiff, and I’m concerned it’ll have an impact on our earnings spread. That’s the key issue the VC has with us right now.”
Jackie pouted, lifting her chin.
“I’m not worried... the e-hailing market there is projected to hit four billion in five years. And I don’t think we need to fight the big boys in the major cities -- there, we focus on deliveries, where we’re strong,” she said.
“Besides, delivery fees will be a welcome side income to many of the riders. We sign-up more riders and the dynamics will change drastically,” she added, wagging a finger for emphasis.
“I hear you. Can’t disagree with that.” He nodded in agreement.
“And as for financing options, I emailed something to you last night. I’m speaking to another VC -- Tech Venture Capital.”
“Yes, I saw that. How does it look?” She threw him a glance.
“It looks promising! Their focus is on early-stage financing and I have raised provisos on the convertible debt. We will be meeting again tomorrow. They want our audited financial statements.”
“Sounds great! Keep me posted on it.”
He acknowledged her with his trademark smirk and a two-finger salute.
Meeting over.
“So, how’s that hunk of a South African you’re seeing?” he asked out of the blue.
“Who? Goodness, Henry, where do you hear these things? The gossip column?”
“Oh, I have my sources,” he deadpanned.
“Well, you should be the editor of a tabloid! His name is Arno Pietersen, and I’m not sleeping with him. He’s a broker.”
Henry grinned as he made his way to the door, then turned back and said, “And, oh, Jackie. I hear the boss of TV Capital, Robert Tang, is quite the eligible bachelor. You might want to work your charm on him.”
He snickered before he disappeared out the door.
* * *
Jackie chuckled when Henry left the room.
*From what I heard of Tech Venture Capital, they’re quite aggressive and very focused on tech startups.*
She slumped in her seat, leaned back, and swiveled her chair to look out at the sprawling bay.
*Interesting… QuickMoves is right down their alley. I hope Henry convinces them to invest in us. I’d hate to sell the emerald necklace. Besides, their largest shareholder is from the Tang family and they sure have deep pockets. Well, we’ll see what happens.*
She swiveled back to her workstation and checked the internet, keen to find out more about the man himself.
*Tang… Robert Tang, Tech Venture Capital, let’s see what we have here.*
After scouring the net for a while, Jackie became somewhat exasperated.
*Goodness, there’s hardly anything about his private life. A few signings for the group a few years back -- that’s it. Why, there’s more stuff about his partners than him! Maybe he’s just the money man. Oh, well…*
* * *